Don't call it a 'bailout': White House

AGENCIESOct 1, 2008, 01.39am IST

WASHINGTON: The White House on Tuesday strongly urged the media not to describe its economic rescue effort as a "bailout," calling that a loaded term wielded by the package's critics to defeat the plan.

"I'm not bashing the media, but I'm saying that was unfortunate to take the language of the critics to brand what this policy debate is about," spokesman Tony Fratto told reporters at a midday briefing.

"It's really unfortunate shorthand for a very complicated issue," he said, describing the term as "branding" the embattled legislation with negative connotations.

"It is not a bailout for Wall Street. It is certainly not a bailout for Wall Street CEOs. It is an effort to fix this problem of a frozen asset class that has implications over our entire economy," said Fratto.

"We have a couple days here now where we're going to work with Congress and we're going to continue to communicate on this. And hopefully we can do a better job of making clear just what our goal is and what we're trying to fix," he said.

"Maybe more American people will be able to see that -- and hopefully more members of Congress," said Fratto.